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Ed Turner
Ed Turner,
Category: Law
Satisfied Customers: 547
Experience:  Director and Consultant Solicitor (Self-Employed) at Ed Turner LLB Limited
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Another person wants to join my business to help it grow. He

Customer Question

Another person wants to join my business to help it grow. He wants Directorship and 30% shares. Is there any way to safeguard my business in case it does not work out?
JA: What state are you in? And have you consulted a local attorney?
Customer: Surrey, No.
JA: Has anything been officially filed? If so, what?
Customer: Nothing yet
JA: Anything else you want the Lawyer to know before I connect you?
Customer: No
Submitted: 7 days ago.
Category: Law
Expert:  Ed Turner replied 7 days ago.

Hello. I am Ed, a Solicitor qualified in England & Wales with over a decade’s experience in the legal profession advising clients.

 

I specialise in Commercial Contracts, Business Transactions, Employment, Dispute Resolution, Personal Injury and Road Traffic Law and will be able to resolve your legal problem today.

 

Regarding the site’s automatic offer of a Premium Service Phone Call, I shall be delighted to talk with you by phone to discuss your issue in greater detail if you accept the offer.

 

However, if you do not want a phone call, please cancel the offer for a Premium Service Phone Call and you will not be charged extra.

Expert:  Ed Turner replied 7 days ago.

If you are taking on outside investment in your company and offering a shareholding, I strongly recommend that you instruct specialise commercial and corporate solicitors to prepare the following:

 

1. Bespoke Article of Association to replace the Model Articles of the Companies Act 2006;

 

2. Share Sale and Purchase Agreement with your prospect;

 

3. Shareholders Agreement between you, the new shareholder and the company.

 

The Model Articles and the Companies Act are fine for small companies, but they are not suitable for more complex investor and shareholder relationships and often leave aggrieved directors and shareholders trapped when things go wrong with their new shareholders.

Expert:  Ed Turner replied 7 days ago.

I hope this resolves your enquiry. Please revert to me if you have any further questions and I will be delighted to assist.

 

Otherwise, I shall be grateful if you will please mark your enquiry as “Closed” and give me a “Positive” rating in order to conclude this matter.

 

Kind regards

 

LawyerEd

Expert:  Ed Turner replied 2 days ago.

Please give me a five-star rating on the Portal in order to close this thread. Thanks. :)

 

Kind regards

 

LawyerEd